Azerbaijani minister reveals expected extra revenues of SOFAZ in 2019

21:11
06 November 2018
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Additional revenues of the State Oil Fund of Azerbaijan (SOFAZ), considering the forecast of oil prices in the state budget, will be about $1-2 billion by the end of 2019, Azerbaijan’s Finance Minister Samir Sharifov said.

He was speaking Nov. 6 at a joint session of Azerbaijan’s parliamentary committees for culture, labor and social policy, family, women and children affairs, science and education, as well as healthcare in the Azerbaijani parliament.

He said that on the one hand, all expenses will be provided, and on the other hand, reserves will increase.

“In addition, we execute our expenditures in such a way that they don’t have an impact on macroeconomic stability,” he noted. “All this is happening in a quite complicated external situation. Certainly, the processes taking place in the region also affect Azerbaijan. We must prevent the spread of such negative processes in Azerbaijan.”